The paper reports that the tough economy and tight credit have pushed more people to rob their future to pay today’s debts. 401(k) plans are being raided with greater frequency to pay medical bills and credit-card debt, avert home foreclosures and other big-ticket problems, and even pay for day-to-day expenses, such as groceries.

“There’s no do-overs when it comes to retirement,” said Beth Almeida, executive director at the National Institute on Retirement Security. “If you mess it up, you face some severe consequences. You either don’t retire or you severely ratchet down your standard of living.” Read the full article here.